Wise Ally to dispose of equity interest in TTL

Wise Ally International Holdings Limited (HKEX: 9918) announced it has entered into a disposal agreement to sell its 10% equity interest in Talentone Technology Limited (TTL) to an independent purchaser. The consideration for the sale is HK$730,000. Concurrent with the equity disposal, Wise Ally is also terminating a Put Option Agreement related to TTL. The company plans to use the proceeds from the sale for general working capital. Wise Ally expects to recognize a net gain of approximately HK$730,000 from the disposal. The company considers the terms of the disposal to be fair and reasonable, given TTL's continued losses and net liability position, and will streamline its portfolio to maximize shareholder value.